The largest US business lobby has warned President Donald Trump against the ramifications of imposing hefty tariffs on imports from China.
"Simply put, tariffs are damaging taxes on American consumers," US Chamber of Commerce President Thomas Donohue said in a statement.
The statement pointed to reports that the administration is considering tariffs worth $30 billion a year, noting that imposing such a...

Iran’s media say the country’s national airline Iran Air has signed an agreement with a Chinese company to provide funding for the company’s plane purchase campaigns – most notably those pursued with Airbus and Boeing.
The Persian-language newspaper Iran reported that the agreement had been signed on Monday at Iran Air premises in Tehran, citing a statement by the country’s Ministry...

Austrian Ambassador to Iran Stefan Scholz voiced his country’s readiness for constructing more solar power plants in Kerman province, saying that first phase of a solar power plant in the province is currently under construction.
Inspecting the first phase of the 1.2 megawatt power plant in Rafsanjan Special Economic Zone, he said the second phase of the power plant will also...

On a visit to Pakistan, Foreign Minister Mohammad Javad Zarif says Iran pursues “free bilateral trade” with the neighboring South Asian country.
The Iranian top diplomat arrived in Islamabad on Sunday at the head of a high-ranking politico-economic delegation.
Zarif further said the Islamic Republic also seeks to promote its banking relations with Pakistan and boost preferred tariffs levied on traded goods.
After...

Ambassador of Iran to Pakistan says Iranian Foreign Minister’s visit to Islamabad will provide an opportunity to explore ways and means to further strengthen cooperation between Iran and Pakistan in diverse areas of mutual interest, particularly expanding bilateral trade.
In an interview with the Islamic Republic News Agency (IRNA), Mehdi Honardoost said that the three day-long visit by Mohammad Javad Zarif...

The European Union is prepared to retaliate against US President Donald Trump's steel and aluminum tariffs but still seeks talks with the United States over the decision to settle the dispute, a senior EU official says.
"We are prepared and will be prepared if need be to use rebalancing measures," European Commission Vice President Jyrki Katainen told a press conference in...

China has advised the United States against launching a trade war, indicating, however, that it will be ready if such a war is waged.
US President Donald Trump has proposed a controversial plan to impose hefty tariffs on steel and aluminum imports, including from China. Trump believes the tariffs will safeguard US jobs even as economists say the measures will destroy more jobs...

Iranian First Vice President Es’haq Jahangiri said on Wednesday that promoting Iran-Iraq economic ties requires both sides to sign constructive agreements.
In a meeting with Iraqi Prime Minister Heydar al-Abadi , Jahangiri noted that the two countries are in need of a comprehensive document for economic cooperation to serve as a foundation for mutual economic relations.
Congratulating the Iraqi nation and government...

China’s CRRC Nanjing Puzhen Rail Transport on Wednesday signed a contract with Iran’s IDRO Group to supply 450 metro cars for the Iranian cities of Ahvaz, Tabriz and Shiraz.
The company, a subsidiary of China’s railway giant CRRC Corps, undertook to provide funds up to 85% of the project as well as parts for assembly at Iranian train manufacturing company Wagon...

Top White House economic adviser Gary Cohn has announced his resignation following US President Donald Trump’s controversial plan to impose hefty tariffs on steel and aluminum imports.
Cohn,the director of the National Economic Council, handed in his notice on Tuesday after a little more than a year on the job.
His resignation came after Trump announced plans last week to impose a 25-percent...